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Overview of PMP Exam
The PMP, called Project Management Professional, is the exam conducted by the Project Management Institute (PMI). As we all know that PMP exam consists of 200 multiple choice questions that outline the five process groups (Initiation, Planning, Executing, Monitoring and Controlling, and Closing) and nine knowledge areas (Integration, Scope, Time, Cost, Quality, Human Resource, Communication, Risk, and Procurement).
Today, we will share some free samples of PMP exam questions and answers If to help you understand the exam. Or you want to know more info about PMP practice tests can contact us directly.
1. A project has a 60% chance of a $100,000 profit and a 40 percent of a US $100,000 loss. The Expected Monetary Value for the project is:
$100,000 profit
$60,000 loss
$ 20,000 profit
$40,000 loss
Answer:
Expected Monitory Value (EMV) is computed by EMV = Probability × Impact.
Compute both positive and negative values and then add them:
0.6 × $100,000 = $60,000 0.4 × $100,000 = $40,000 EMV = $60,000 - $40,000 = $20,000 profit
2. Assuming that the ends of a range of estimates are +/- 3 sigma from the mean, which of the following range estimates involves the LEAST risk?
Answer:
30 days, plus or minus 5 days
22 – 30 days
Optimistic = 26 days, most likely = 30 days, pessimistic = 33 days
Mean of 28 days
The estimate with the smallest range is less risky.
3. If a risk has a 20 percent chance of happening in a given month, and the project is expected to last five months, what is the probability that the risk event will occur during the fourth month of the project?
Answer:
Less than 1 percent
20 percent
60 percent
80 percent
4. An accepted deadline for project approaches. However, the project manager realizes only 75% percent of the work has been completed. The project manager then issues a change request. What should the change request authorize?
Answer:
Additional resources using the contingency fund
Escalation approval to use contingency funding
Team overtime to meet schedule
Corrective action based on causes
5. The risk will be identified during which risk management process(es)?
Answer:
Perform Quantitative Risk Analysis and Identify Risks
Identify Risks and Monitor and Control Risks
Perform Qualitative Risk Analysis and Monitor and Control Risks
Identify Risks
Reference: The PMBOK® Guide, 5th Edition, Page 312, Figure 11.1
6. What is meant by RACI?
Answer:
Responsible, Accountable, Confirm, Inform
Recommended, Accountable, Consulted, Inform
Responsible, Accountant, Consulted, Inform
Responsible, Accountable, Consulted, Inform
The RACI chart is an example of the Responsibility Assignment Matrix (RAM), which shows the relationship between activities and the team members.
7. Which of the following statement is true about a Program?
Answer:
A Program is a group of related projects
A Program is a group of unrelated projects
A Program is a part of a big project
None of the above
8. The project manager meets with the project team to review lessons learned from previous projects. In what activity is the team involved?
Answer:
Performance management
Scope identification
Risk identification
Project team status meeting
9. During a bidder conference, you see that one bidder is your close friend. What should your next step be?
Answer:
You will pass some confidential info to him
You will disclose this relationship to your management
You will resign immediately from the bidding process
You will try not to give the contract to him to prove your integrity
There is a conflict of interest in this situation. You must inform your boss about this relationship.
10. If a risk event has a 90 percent chance of occurring, and the consequences will be the US $ 10,000, what does the US $9,000 represent?
Answer:
Risk value
Present value
Expected monetary value
Contingency budget
EMV = .9 X $ 10,000 = $ 9,000
11. Your construction project was damaged by an earthquake. Your contractor says that he cannot fulfill the terms of the contract due to a specific clause you both had signed the contract. He is referring to the:
Answer:
Force majeure clause
Fixed price clause
Contract obligation terms
None of the above
12. All of the following are ALWAYS inputs to the risk management process EXCEPT:
Answer:
Historical information
Lessons learned
Work breakdown structure
Project status reports
Project Status report can be an input to risk management. However, when completing risk management for the first time, you wouldn’t have the project status report yet. Therefore, the project status report is not always an input to risk management.
13. When estimating time for activities, a Project Manager should:
Answer:
Use the best guess and estimate all activities since there will be changes as the project progresses and more information becomes available
Involve people who will be doing the work to get estimates
Estimate for what the cost will allow and include buffers
None of the above
14. Risk tolerance is determined in order to help:
Answer:
The team ranks the project risks.
The project manager estimates the project.
The team schedules the project.
Management knows how other managers will act on the project.
If you know the tolerance of the stakeholders, you can predict how they might react to different situations and risk events. This information can help assign levels of risk on each work package activity.
15. You are running a project to engineer and implement a set of business processes and a software solution for customer relationship management. The project involves a large number of organizations―a major corporation and many suppliers of different sizes. During the project, you observe the effects of the differences between the companies’ corporate cultures. This leads to different expectations on how the project should be handled—as well as to frequent misunderstandings between stakeholders. Another effect is a growing degree of distrust and skepticism. What should you try first to integrate the diverse stakeholder groups?
Answer:
Focus on project work. As a project manager, you should not get distracted by big egos.
Let the problems grow further until they are obvious for all. Then escalate them.
Develop a joint quality policy for the project and seek a commitment by all organizations.
Analyze the probability and impact of the risks linked with the situation and plan how to respond to them.
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